[CLBS] Chapter 20s

[Gery Edson]

Yeah that's Nobleman

Sent from my iPhone

> On Oct 21, 2016, at 1:14 PM, Randy French <rfrench at rfrenchlaw.com> wrote:
> 
> I think that the issue is that your home has at least some equity to secure
> the 2nd at the time that you file the ch 13.  I do not believe that you can
> rely upon the value of the home when the ch 7 was filed or the amount of
> debt owed on the first when the ch 7 was filed.
> 
> Ch 20s are still available and lien stripping in a ch 20 is possible.  But,
> you have to be able to show that there is no equity in the property above
> the senior lien(s) to secure the 2nd.
> 
> Randy French
> 
> Law Office of Randal J. French, P.C.
> Attorneys at Law
> AP.O. Box 836 PBoise, ID 83701 B(208) 859-6881  
> 
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> -----Original Message-----
> From: CLBS [mailto:clbs-bounces at admws.idaho.gov] On Behalf Of Jon Wilson
> Sent: Friday, October 21, 2016 12:33 PM
> To: clbs at admws.idaho.gov
> Subject: [CLBS] Chapter 20s
> 
> Chapter 20s are possible, but I have not had a situation where the possible
> issues is raised years after a chapter 7 was filed and discharged received
> by debtor.
> 
> 
> 
> Is it possible to file a Chapter 7 in year one and 7 years later file a
> chapter 13 to strip the 2nd DOT lien.
> 
> 
> 
> Basic facts, the 2nd was not secured by any equity when chapter 7 was filed
> in year one, debtor did not reaffirm on either the 1st or 2nd.   7 years
> later, the home has a value in excess of the 1st DOT.  It doesn't seem
> likely since the consensual lien has remained against the home and has
> subsequently increase in value.  Any thoughts, verifications, etc.  Thanks. 
> 
> 
> 
> Jon
> 
> Jon R. Wilson
> 
> Attorney at Law
> 
> 
> 
> Wilson Law Offices, P.C.
> 
> 4614 W. Emerald St.
> 
> Boise, ID 83706
> 
> Tel. (208)343-8400
> 
> Fax (208)424-5006
> 
> Email:  jon at boiselaw.org <mailto:jon at boiselaw.org> 
> 
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